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Thursday, 22 October 2015

This is the
second part in continuation to the above topic, “Elements of Planning”.

Rules:

In an
organization, firm and definite plan that spells out what is to be done or not
to be done in a certain condition is known as Rule. Any sort of divergence, deviation and
flexibility is not acceptable in following rules & its application also.
Hence, Rule is stringent guidelines for actions and permits no discretion.

Programmes:

The Programmes
are made to carry out the implementation of the planned work, according to
general policies and procedures. Generally a programme is a short plan to
perform a particular task or work.

The programme is
of different types as short-term long-term, specific, limited, and extensive,
etc. This describes the steps to be taken, resources to be utilized, amount of
time to be used in each step and which particular employee has to perform and
execute the job. These sequential activities aim at putting in practice the
policies to accomplish the objectives.

Hence, programme
is a combination of these objectives, policies, procedures and rules.

Budgets:

Budget is the
financial plan, which explains the expected result in quantitative terms. This
ascertains the limit within which the goals have to be accomplished. Not only
this, it also measures the overall performances.

Budget is
futuristic and an organization has many types of Budgets as, Cash-Budget,
Purchase-Budget, Sales-Budget, Overhead-Budget, etc. and all these are specific
tools for systematic control, since it is numerical and not abstract.

Strategies:

A strategy is a
special type of plan formulated in such a way that it assimilates with the
existing primary plan or any optional plan for the successful accomplishment of
objective.

This shows that
an ultimate objective has to be achieved whatever the circumstance may be. On
the other hand we may say that it is the helping adjustment with the changing
condition or business environment.

Different type of
strategies as Marketing Strategies, Financial Strategies, Production
Strategies, Personnel strategies, etc., are designed to tackle or support in
reaching specific decision or result. Mostly these strategies depend upon the
problem or situation prevailing in the changing world.

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About Me

Most often I used to read about
blogging in the newspaper, which explained some of their blogs as well as
discussed about their followers.

This created an internal
interest in me. Therefore these articles gave me an impetus and inclination towards
blogging. I have gone through many blogs on different issues and subjects and
this encouraged me to write something and join the league from my field.

I am starting this blog in the
field of my interest ‘Management’ because of my knowledge which I gained while
graduating.

I completed my Graduation in
Commerce and gained a degree of ‘Bachelor of Commerce’ in the year 2011 and
‘Post Graduate in Commerce’ in 2013. At present I am pursuing Post Doctorial
Research in the field of Stock Markets.